Huge boost: During his state of the nation address on Thursday, President Cyril Ramaphosa said Eskom will receive R230bn from government over the next 10 years. Picture: ESA ALEXANDER
Huge boost: During his state of the nation address on Thursday, President Cyril Ramaphosa said Eskom will receive R230bn from government over the next 10 years. Picture: ESA ALEXANDER

In an ambitious address that promised both expansive public spending as well as a commitment to prudent management of public finances, President Cyril Ramaphosa outlined an extensive programme for the next five years at the opening of parliament on Thursday evening.

In the biggest announcement of the night, Ramaphosa said Eskom would receive a portion of the R230bn in support from government, which was promised at the time of the budget sooner than had been anticipated. This is to alleviate its financial crisis and enable it to finalise its annual financial statements in the next few weeks. Without additional support it is not a going concern.

If you are already a subscriber, please click on the following link  to go to the full article:  Ramaphosa outlines early bailout relief for Eskom

If you would like to subscribe to BusinessLIVE to read the full story, please click here.

Politicians spoke to the media on June 20 2019 after the second instalment of the state of the nation address by President Cyril Ramaphosa. Subscribe to TimesLIVE here: https://www.youtube.com/user/TimesLive